Fujitsu, Japan's biggest technology services firm, today forecast a stronger-than-expected 96 per cent profit rise this year as an economic recovery encourages companies to hike their IT spending.
Fujitsu, which trails IBM and Hewlett-Packard, said it sees an operating profit of 185 billion yen ($1.97 billion) in the year to March 2011.
It would be up 96 per cent from 94.4 billion yen profit booked for the just-ended year.
Fujitsu and its rivals are benefitting as companies resume spending on technology hardware, software and services. But Fujitsu's operations have recently been overshadowed by a lingering dispute over the ouster of former president Kuniaki Nozoe.
Shares in Fujitsu jumped 68 per cent in the year ended March, outperforming a 53 per cent rise in Tokyo's electric machinery subindex during the same period.
Reuters